May 7, 12:24 PM

Kenvue Cuts 880 Jobs, Beats Q1 Profit Estimates; Stock Rises 4.7%

Kenvue, the maker of Tylenol and Band-Aid, announced a 4% reduction in its global workforce, totaling 880 layoffs, as part of an efficiency plan to boost competitiveness and expand its key brands. This move coincided with the company's first-quarter financial results, where it surpassed Wall Street's profit estimates. Kenvue reported a Non-GAAP EPS of $0.28, beating expectations by $0.03, and a revenue of $3.9 billion, exceeding forecasts by $110 million. Following the announcement, Kenvue's stock experienced a notable increase, jumping 4.7%.

#Kenvue #Tylenol #Wall Street #Non

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